How to effectively cut plywood with an X-acto knife?

Question: Hi, me and my physics partner are working on a project... and its due tomorrow. RIght now, we are having the issue of cutting a 1/8" thick board of plywood... and the sharpest thing we have is probably an x-acto knife. We need to cut small circles (like, 1/4" radius holes) in the center of parts of the plywood... and we aren't having much success.. A nice question would be something like... whats an easier way to cut holes in plywood? Like.. is there anything that might weaken/dissolve parts of the wood? Any answers would be greatly appreciated!

Answer: Yikes, "The Right Tool for the Job!!" I'd get a DRILL !! An X-acto blade, or ANY other knife being used to cut through plywood is an accident looking to happen.

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